Manufacturing Sector and Globalization Nexus in Nigeria: An Empirical Study
Journal Title: Journal of Economics, Finance and Management Studies - Year 2022, Vol 5, Issue 02
Abstract
Globalization is meant to efficiently allocate resources around the world to enable economic growth. Hence, the study took as its objective to examine the relationship between globalization and the Nigerian manufacturing sector. To achieve this, the study utilized annual time series data from 1986 to 2019. The analytical method followed the Paseran, Shin, and Smith (2001) ARDL approach. Bound cointegration test revealed that stable long run relationship exists among the variables. The result shows that overall globalization and economic globalization had negative and significant impact on manufacturing output growth in the long run. However, in the short run only economic globalization has a positive significant impact on manufacturing in Nigeria. Based on these findings, the study, therefore recommended that, the government should adopt proactive trade policies to protect and give competitive advantage to the domestic manufacturers.
Authors and Affiliations
Dr Ezebunwo Nyeche, Amadi Celestine Rose, Leera Kpagih
Keywords
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- EP ID EP706917
- DOI 10.47191/jefms/v5-i2-15
- Views 95
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